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FinTok: can vacation credit spoil credit history?

Banki.ru: themes of the day 05.08.2020 at 21:00

Banking and financial news on the website Banki.ru

Citizens who find themselves in a difficult situation in connection with the pandemic coronavirus are entitled to vacation credit. But what will happen with credit history if you have to use such a measure? Won't these borrowers are "bad" in the eyes of other banks? Understand together with NBCH.

the Text version of the

Alexey Volkov,

marketing Director of National Bureau of credit histories (nbki)

What is credit history?

Credit history is a document, which confirms the financial and credit reputation. It is a credit history look banks, MFIs, credit cooperatives, pawnshops and so on. This document contains information about all previously issued loans, loans, loans, their amounts and timing. It contains information, as these obligations were served — they were overdue or not. And most importantly — there is evidence of the existence and amounts of current liabilities. In fact, this document, pursuant to which the lender takes decision to issue or not to the person credit.

data Which worsen credit history?

the Exact criteria that would determine what credit history is bad and what is good, does not exist. Analyzing this document, a lender may look the other way on a history of delinquency up to 30 days. And someone, on the contrary, considers that 30 days is unacceptable, this is a bad signal and such a borrower cannot be trusted. Each lender evaluate the credit history on its own.

If you've made a overdue on its obligations is likely to request some MFIs or banks will approve you. But we must understand that the mistakes you make in the past, the delay is for the potential lender an additional signal of increased risk in relation to you. Will be reduced or the amount or term. Or, more likely, will increase the interest rate.

But definite stop factor, which can be recorded in history and that will not allow you to use the credit resources is availability of current outstanding overdue obligations.

if vacation credit worsening credit history?

the Most popular right now vacation credit for borrowers who find themselves in the company of a pandemic coronavirus in a difficult financial situation. They are provided in accordance with Federal law No. 106-FZ, which was signed immediately after the call of our President to the banks to restructure loans to such individuals. The law is a set of criteria: what is a difficult situation, what are the limits on amounts of loans covered under this program.

Information about credit vacation is also transmitted by the banks in credit history. In accordance with the instructions of the Bank of Russia, we introduced the format of the credit history of a special field, where it is noted that this restructuring is associated with the aforementioned law. This field appeared to future creditors. Other things being equal information about the normal debt restructuring is likely to have a negative impact on credit history. But in this case the regulator, the Bank of Russia recommends banks if there is such a level as not to impair the rating of the borrower. Moreover, we do not consider information about credit vacation when you calculate the personal credit rating of the citizen.

read More about credit vacation in a special issue FinTok.

read More about the format FinTok can be read here.